Inseego (NASDAQ:INSG) Given Average Recommendation of “Hold” by Brokerages

Shares of Inseego (NASDAQ:INSG) have received an average recommendation of “Hold” from the eight brokerages that are presently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation, three have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among analysts that have covered the stock in the last year is $14.60.

Several equities analysts have recently commented on the stock. Zacks Research cut shares of Inseego from a “hold” rating to a “strong sell” rating in a research report on Friday, August 14th. UBS Group set a $9.00 price objective on Inseego in a research note on Thursday, August 6th. TD Cowen reaffirmed a “hold” rating and set a $18.00 target price (up from $15.00) on shares of Inseego in a report on Wednesday, May 13th. Lake Street Capital set a $12.00 target price on Inseego in a research report on Thursday, August 6th. Finally, Wall Street Zen downgraded Inseego from a “hold” rating to a “strong sell” rating in a report on Saturday, August 8th.

Inseego Trading Down 2.7%

INSG stock opened at $4.40 on Friday. The firm has a 50 day simple moving average of $7.16 and a 200-day simple moving average of $10.76. The company has a market capitalization of $72.25 million, a P/E ratio of 33.85 and a beta of 1.70. Inseego has a twelve month low of $3.93 and a twelve month high of $21.90.

Inseego (NASDAQ:INSG) last announced its quarterly earnings data on Wednesday, August 5th. The technology company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.06). The company had revenue of $43.98 million for the quarter, compared to analyst estimates of $39.90 million. Inseego had a negative return on equity of 13.38% and a negative net margin of 6.41%. On average, research analysts predict that Inseego will post -1.39 EPS for the current year.

Institutional Trading of Inseego

Institutional investors have recently added to or reduced their stakes in the business. Balyasny Asset Management L.P. raised its holdings in shares of Inseego by 171.9% during the second quarter. Balyasny Asset Management L.P. now owns 502,026 shares of the technology company’s stock worth $4,137,000 after purchasing an additional 317,401 shares during the period. First Eagle Investment Management LLC grew its position in shares of Inseego by 209.4% during the 4th quarter. First Eagle Investment Management LLC now owns 435,849 shares of the technology company’s stock valued at $4,476,000 after buying an additional 294,999 shares during the last quarter. Blue Door Asset Management LLC acquired a new stake in Inseego during the fourth quarter worth about $2,210,000. Geode Capital Management LLC raised its stake in Inseego by 118.9% during the second quarter. Geode Capital Management LLC now owns 279,787 shares of the technology company’s stock worth $2,306,000 after acquiring an additional 151,970 shares during the period. Finally, Gendell Jeffrey L lifted its holdings in Inseego by 34.6% in the fourth quarter. Gendell Jeffrey L now owns 429,301 shares of the technology company’s stock worth $4,409,000 after acquiring an additional 110,253 shares during the last quarter. Institutional investors own 34.20% of the company’s stock.

Inseego Company Profile

Inseego Corp is a U.S.-based technology company specializing in 5G and intelligent Internet of Things (IoT) device-to-cloud solutions. The company develops hardware and software platforms designed to connect devices, vehicles and remote locations to high-speed wireless networks. Its core offerings include mobile hotspots, fixed wireless access gateways and ruggedized routers optimized for enterprise, industrial and government applications.

Inseego’s product portfolio encompasses 5G MiFi® mobile hotspots, virtual network functions (VNFs) for network management, telematics devices for fleet tracking and asset monitoring, as well as a suite of cloud-native software for device lifecycle management and data analytics.